Chicago – Cohen Financial Secured a $52 million refinancing of Rolling Hills Plaza, a retail center in Torrance, Calif. The property is a lifestyle center consisting of approximately 350,000 sq. ft. of retail space and 58,000 sq. ft. of office space. Rolling Hills Plaza is located at Crenshaw Boulevard and the Pacific Coast Highway.
Rolling Hills Plaza contains a total of 19 buildings, including a three-story office building and two parking garages. The property is more than 92 percent leased. Anchor tenants include Trader Joe’s, Bed Bath & Beyond, Rite Aid, BevMo, 24 Hour Fitness, and an AMC 20-screen Theater. The project is owned by Bristol Group Inc., a national investment and development firm based in San Francisco, Calif. in partnership with La Caze Development Co., which is based in Torrance, Calif. La Caze Development Co. also manages the property.
Don C. Trossman, managing director of Cohen Financial in the Chicago office and Ryan Porter, vice president in the Irvine office, secured the fixed rate, 10-year term loan with a 30-year amortization schedule from a life insurance company correspondent.